World Bank’s International Finance Corporation (IFC) today said that the organisation will be giving $137 million in financing to two e-vehicle companies in order to enhance electric mobility in India. The two companies are JBM Ecolife, which is part of the JBM Auto Ltd, and which will receive $100 million in financing; the other company is the e-bus operator GreenCell Mobility, which will receive $37 million.
As stated by IFC, these clutch of investments is slated to create up to 12,000 jobs, and will together deploy 4,000 electric buses across regions spanning Maharashtra, Assam, Gujarat, Andhra Pradesh, Bihar, Madhya Pradesh, Puducherry and New Delhi.